Dorothy Corporation had the following accounts in its year-end adjusted trial balance: Inventories, $23,600; Accounts receivable, $7,600;

Question:

Dorothy had the following accounts in its year-end adjusted trial balance: Inventories, $23,600; Accounts receivable, $7,600; Accounts payable, $7,200; Prepaid rent, $2,400; Marketable securities, $3,000; Allowance for doubtful accounts, $1,100; and Cash, $1,500. Prepare the current assets section of Dorothy Corporation’s year-end balance sheet.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...